Echo Investment has signed an agreement for the sale of the Brain Park B building in Kraków to Polish Sando Office for approximately €40.3 million.
The fully leased building offers close to 16,250 sqm of A-class office space and holds a Breeam Excellent sustainability rating. The sale marks the completion of the divestment of all phases of the Brain Park complex.
Brain Park B is the third and last building of the Brain Park complex, one of central Kraków's key business hubs. The building was designed by Baumschlager Eberle Architekci Kraków according to sustainable development trends. It features energy-efficient solutions and partial power supply from renewable energy sources.
"The divestment of Brain Park B demonstrates that our well-designed, modern and fully let office developments continue to attract capital," says Judyta Sawicka, Head of Divestment & Investment at Echo Investment. "For Echo Investment, this is another step in the execution of our growth strategy: we are unlocking capital from mature assets and redirecting it into new ventures with high potential."
"We are pleased to add another high-quality, sustainable office building to our portfolio, combining an attractive location, top environmental standards and long-term investment potential," said Przemysław Bokwa, CEO of Sando Office. This is the second transaction between Sando Office and the Echo Group, following the acquisition of the City 2 office building in Wrocław from Archicom.
